Pepsi Bottling raises earnings outlook
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- June
- 2
Pepsi Bottling Group Inc., the world’s largest distributor of Pepsi beverage products, said that improved soft drink sales in the United States are one reason why the company is raising its earnings outlook.
The Somers-based company said that it expects to report earnings per share of 70 cents to 74 cents in the second quarter, up 5 cents from earlier estimates. For 2009, the company anticipates earnings per share of $2.30 to $2.40, up 10 cents from a previous forecast. The company also raised its full-year operating free cash flow guidance by $25 million to $525 million.Pepsi Bottling also cited lower volatility in foreign currencies and decreases in commodity costs for its improved outlook.
“Improving fundamentals in our U.S. and Canada business, coupled with the success of our global pricing strategy, are producing solid results,” Chief Executive Officer Eric Foss said in a written statement. “We’re also delivering significant cost and productivity savings and superior execution at the point of sale.”
This entry was posted
on Tuesday, June 2nd, 2009 at 12:35 pm by Jay Loomis.
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Category: Earnings forecast
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